NASSAU, Bahamas, CMC – The Bahamas government has welcomed the decision by the Organization of American States (OAS) to approve what it termed as “two landmark documents,” emanating from the Fourth Inter-American Meeting of Ministers and High-Level Authorities on Sustainable Development held here earlier this month.
The OAS has approved the Nassau Declaration and the Inter-American Climate Action Plan 2023-2030 by acclamation. Nassau says it “is a testament to the formidable challenges surmounted by this dynamic alliance.”
The Nassau Declaration reaffirms the commitment of member states to effectively implement the 2030 Agenda for Sustainable Development, emphasizing the balanced integration of its economic, social, and environmental dimensions.
It underscores the proactive conservation and sustainable management of vital water resources while promoting responsible stewardship of marine and freshwater ecosystems. Moreover, the Declaration charts a path towards mitigating greenhouse gas emissions and accelerating the transition to clean and renewable energy sources, leaving behind emissions-intensive energy options.
Inter-American Climate Action Plan 2023-2030 establishes a comprehensive framework to address the urgent climate challenges in the Americas.
It champions sustainable development, greenhouse gas emissions reduction, adaptation to climate change impacts, and the transition to a low-greenhouse gas, climate-resilient economy.
The plan outlines critical activities, including accelerating clean, sustainable, renewable, and equitable energy transitions, integrated water resources management, disaster risk management, and resilience-building.
Member states also acknowledged the imperative need to enhance their capacity to access climate funds, emphasizing the pivotal role of a regional hub in bridging existing capacity gaps in this crucial endeavor.
OAS member states further underscored the significance of financial support for climate initiatives in the region.
Representatives from the multilateral development banks reaffirmed their commitment to support developed and developing countries in the Americas to access and benefit from an array of innovative climate financing mechanisms and instruments.
The statement said that ministers and representatives from the international financial institutions also engaged in interactive dialogue, which highlighted pressing climate issues affecting the region and explored potential solutions to increasing access to funding that is affordable and at the requisite scale.
Towards the end of the Climate Finance Meetings, the Declaration of The Bahamas on Climate Finance in The Americas was adopted by consensus and approved by acclamation.
“ The acclaimed and endorsed Declaration was entrusted to the Organization of American States through the Inter-American Council for Integral Development (CIDI) and the Executive Secretariat for Integral Development (SEDI) to provide the requisite follow-up on its implementation.
“It is anticipated that the Declaration of The Bahamas on Climate Finance in the Americas will have a lasting impact, serving as a vehicle and point of reference to represent a common position of the Hemisphere in future deliberations and negotiations, including the upcoming COP 28 and beyond,” the statement added.
The statement said that the Bahamas, through its exemplary efforts, has expanded the OAS’s mandate to address climate change issues over the next seven years, “signaling a profound commitment to a sustainable future for the Americas.”
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